The Table Accompanying Lists the Joint Distribution of Unemployment in the United

question 24

Essay

The table accompanying lists the joint distribution of unemployment in the United States
in 2001 by demographic characteristics (race and gender). Joint Distribution of Unemployment by Demographic Characteristics, United States, 2001
$\begin{array}{|c|c|c|c|}\hline & \begin{array}{c}\text { White } \\(Y=0)\end{array} & \begin{array}{c}\text { Black and Other } \\(Y=1)\end{array} & \text { Total } \\\hline \begin{array}{c}\text { Age } 16-19 \\(X=0)\end{array} & 0.13 & 0.05 & 0.18 \\\hline \begin{array}{c}\text { Age 20 and above } \\(X=1)\end{array} & 0.60 & 0.22 & 0.82 \\\hline \text { Total } & 0.73 & 0.27 & 1.00 \\\hline\end{array}$
(a)What is the percentage of unemployed white teenagers?

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Definitions:

Value in Product

The perceived benefit or usefulness of a product to the consumer, which includes quality, features, and overall satisfaction.

Price Point

The standard price or price range of a product as determined by its perceived market value and competitive conditions.

Units Sold

The quantity of products or services sold within a specific period.

Price Increases

The act of raising the cost of products or services, often in response to increased production costs or to leverage market demand.